BioAmber closes US $20M public offering, repays loan

Ted Liu

BioAmber Inc. (NYSE: BIOA) disclosed that on January 27th, 2017 BioAmber closed on its previously announced public offering of 4,236,844 units, including full exercise of underwriters’ option, at US $4.75 per unit for gross proceeds of US $20.1 million.

A portion of these securities was issued in Canada on a private placement basis. Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book-running manager in connection with this offering and AltaCorp Capital, Cormark Securities and Clarus Securities acted as co-managers.

BioAmber subsequently reimbursed its CDN $25 million or US $19.3 million loan with Bridging Finance Inc. Following the repayment of this loan, BioAmber has no corporate debt.

photo credit: BioAmber